Flagstar Bancorp Inc. (FBC) Reaches New 1-Year High at $25.15
Shares of Flagstar Bancorp Inc. (NYSE:FBC) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.15 and last traded at $25.08, with a volume of 178,970 shares. The stock had previously closed at $24.76.
Several analysts recently issued reports on the company. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Friday, June 3rd. FBR & Co reissued a “buy” rating on shares of Flagstar Bancorp in a report on Tuesday, June 28th. TheStreet upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Finally, Boenning Scattergood started coverage on Flagstar Bancorp in a research report on Wednesday, June 29th. They issued an “outperform” rating and a $26.50 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Flagstar Bancorp currently has a consensus rating of “Buy” and a consensus price target of $25.63.
The stock’s 50-day moving average is $23.84 and its 200 day moving average is $21.82. The stock has a market cap of $1.42 billion and a P/E ratio of 10.66.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.18. During the same period in the prior year, the business earned $0.43 EPS. On average, equities analysts predict that Flagstar Bancorp Inc. will post $2.12 earnings per share for the current year.
A number of large investors recently added to or reduced their stakes in FBC. LSV Asset Management increased its stake in Flagstar Bancorp by 466.4% in the fourth quarter. LSV Asset Management now owns 97,987 shares of the company’s stock worth $2,264,000 after buying an additional 80,687 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Flagstar Bancorp during the fourth quarter worth $1,080,000. Cornerstone Capital Management Holdings LLC. increased its stake in Flagstar Bancorp by 268.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 45,698 shares of the company’s stock worth $1,056,000 after buying an additional 33,298 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Flagstar Bancorp by 10.7% in the fourth quarter. Nationwide Fund Advisors now owns 206,993 shares of the company’s stock worth $4,784,000 after buying an additional 20,074 shares during the last quarter.
Flagstar Bancorp, Inc is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. The Company operates through three segments: Mortgage Originations, Mortgage Servicing and Community Banking. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
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